Open Road wins interim access to cash collateral; final hearing Oct. 2

By Caroline Salls

Pittsburgh, Sept. 10 – Open Road Films, LLC obtained court approval to access the cash collateral of its pre-bankruptcy secured parties on an interim basis, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The final hearing is scheduled for Oct. 2.

The cash collateral will be used to fund its operations while in bankruptcy.

“Without the ability to use cash collateral, the debtors will be unable to meet post-petition obligations and will be unable to fund working capital needs, thus causing irreparable harm to the value of their assets and ending the debtors’ orderly sale efforts,” the company said in the cash collateral use motion.

Open Road is a Los Angeles-based film operation. The company filed bankruptcy on Sept. 6 under Chapter 11 case number 18-12012.

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